Update on MuiaMuia is grateful for the progress his businesses have made over the last year. He sold more curios, and the cosmetics shop also provided increased income. He would therefore like to increase the level of stock in both ventures.
Muia is requesting a loan of 104,800 Kenyan shillings to purchase additional curios and cosmetics to sell. He is confident the enterprises will generate sufficient profit both to repay the loan and help him to better meet the basic needs of his family.
Previous Loan DetailsMuia lives in the Kongowea area of Coast Province, Kenya. He is married and has two children, one of whom attends school. For the past 7 years, Muia has owned a curio shop from where he sells art work, mostly loved by tourists. He also owns a cosmetics shop.
Muia learned about Milango thro... More from Muia's previous loan »
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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- Repayment Term
- 10 months (Additional Information)
- Repayment Schedule
- May 15, 2013
- Jun 1, 2013
- Currency Exchange Loss:
- Jul 1, 2013
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.